Check Out This Site "gcitrading.com"

[aca_trader]

So which one is a certified/ regulated forex broker in india? I saw it on icicibank.com website that they provide forex trading . But
this service is for institutions / companies and not for retail traders.
We are interested in individual traders. People on this forum and particularly
about forex threads dont seem interested to answer questions about forex
brokers , account opening and their actual trading and other specific queries
posed . They just beat about the bush. Only genuine forex trader we had
on this forum was nautilus but he too was an NRI and trading from outside
india.He too has not posted for a long time now. So it would be pertinent
to suggest that if there is some genuine forex trader on this board he should
come forward and answer all the questions posted on this forum.
regards,
vinay

In India, one can contact Refco-Sify which is now ManFinancial-Sify.

Best Regards,
--Ashish

 

[aca_trader]

Hi Amarnath,
may be you are doing it since 2000. But is it legal ? As far as
I know resident Indian are not allowed currency trading. Will
you shed some light on this topic?
Regards,
vinay

Well, resident Indians can't trade in Currencies on their own. However, they can do it through a person authorised by RBI to act as "Authorised Person" under the provisions of FEMA. All the scheduled banks, Forex Dealers and a few other institutions are allowed to act as authorised persons.

Best Regards,
--Ashish

 

[joy_verma]

Thanks Ashish. valuable info.Thanks once again.
Regards,
vinay

 

[Agilent]

This may appear like a digression, but isn't it correct that in the long run, making money from currency trading is more difficult than from equity trading ?

I mean, theoretically speaking, to me it looks more difficult to forecast (medium/long term specially) the price of a currency than that of a scrip...

I have always found economics much more difficult than FA/TA analysis in the context of equity investing, and thats why I think as above.

Welcome other views . .. am sure many members have good experience in both these fields
AGILENT

 

[arprtrd]

Well, resident Indians can't trade in Currencies on their own. However, they can do it through a person authorised by RBI to act as "Authorised Person" under the provisions of FEMA. All the scheduled banks, Forex Dealers and a few other institutions are allowed to act as authorised persons.

Best Regards,
--Ashish

What about the 25000$ that one can invest overseas now?. If one keeps that in a bank a/c and switches between currencies, that is a form of currency trading albeit without leverage.
What about trading in index/stock derivatives with this 25000 $ ?

Thanks

 

[amarnath]

Hi Amarnath,
may be you are doing it since 2000. But is it legal ? As far as
I know resident Indian are not allowed currency trading. Will
you shed some light on this topic?
Regards,
vinay

I managed NRI and overseas acct in past with POA agreement from clients . But now trading under 25k $/yr is not illegal i hope . Good lucks Good trading

 

[amarnath]

This may appear like a digression, but isn't it correct that in the long run, making money from currency trading is more difficult than from equity trading ?

I mean, theoretically speaking, to me it looks more difficult to forecast (medium/long term specially) the price of a currency than that of a scrip...

I have always found economics much more difficult than FA/TA analysis in the context of equity investing, and thats why I think as above.

Welcome other views . .. am sure many members have good experience in both these fields
AGILENT

Sucessful trading doesnt involves predicting and forecasting . Its all about stastical edge you have over others . May be from investing point of view you are right which i cant comment more on it bcoz i lack stock / equity trading experinces but from TA point of view every thing under sun is tradable

 

[amarnath]

What about the 25000$ that one can invest overseas now?. If one keeps that in a bank a/c and switches between currencies, that is a form of currency trading albeit without leverage.
What about trading in index/stock derivatives with this 25000 $ ?

Thanks

yes true

 

[aha_trader]

Hello,
I going to post a few experiences regarding GCI trading. Eventually I might become a trader myself and refer other people. To start with, I tried for the demo version and it says java jdk is necessary. I am in the process of downloading and installing. More developments later.
Keep in touch.

 

[tirou]

Hello,
I going to post a few experiences regarding GCI trading. Eventually I might become a trader myself and refer other people. To start with, I tried for the demo version and it says java jdk is necessary. I am in the process of downloading and installing. More developments later.
Keep in touch.

Any latest information, regarding ur experience with GCI.